Chemtura Gets Conditional $45M Bid For Additives Biz

Law360, New York (December 23, 2009, 5:05 PM EST) -- Chemtura Corp. said Wednesday that it has entered into a $45 million stalking horse agreement with SK Capital Partners in which the New York-based private equity firm will buy the bankrupt chemical maker's global PVC additives business pending a higher bid.

The bid is subject to approval by the U.S. Bankruptcy Court for the Southern District of New York and an auction process during which other parties will have the opportunity to submit better offers.

Chemtura said Wednesday that the business had revenues of $374 million...
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